Best Cannabis Stocks To Buy Long Term?


Top Stocks Of Medical Cannabis And Ancillary Marijuana

Marijuana stocks have seen a lot of price swings in July, making them excellent buys. Marijuana stocks have started to rise again since hitting new lows in July, thanks in part to Schumer’s continued advocacy for legalization in Congress. Stocks in marijuana-related businesses and medical marijuana companies fell sharply. Overall, they have established themselves as some of the most prominent US corporations in their respective fields.

For those who do not already know, ancillary cannabis companies are businesses that support the cannabis sector but do not actually work with it. As a whole, a wide range of businesses is involved in the cannabis industry. Nasdaq-listed cannabis-related companies saw their stock values fall dramatically in the first half of 2022. Taking positions at cheaper price points may be achievable this year because of these price drops.

Best Cannabis Stocks To Buy Long Term? 2 To Watch Before August | Flipboard

Contrary to popular belief, the US economy is not yet in recession, and the stock market appears to be searching for a bottom before beginning its recovery. It is difficult for long-term investors to locate high-quality marijuana equities that also pay dividends. Investors in these cannabis-related stocks have had spectacular gains in the past.

Prior to the start of August, you should consider adding these ancillary marijuana stocks to your portfolio as the general market appears to be rebounding.

Also Read: Here’s Some Interesting Facts About Mexico Marijuana Stock

Marijuana Stocks to Keep an Eye Out For in August

  • Scotts Miracle-Gro (NASDAQ: SMG)
  • AbbVie (NASDAQ: ABBV)

Scotts Miracle-Gro

Consumer lawn and garden goods giant Scotts Miracle-Gro has jumped into the cannabis industry. Hydroponic tools, lighting, and fertilizers for cannabis cultivation are available through Hawthorne Gardening, a wholly owned subsidiary of the firm. Hawthorne customers may now get Luxx Lighting and True Liberty Bags at Scott’s.

Hawthorne’s lighting portfolio, which is already competitive, will be bolstered by the acquisition. Despite a drop in revenue, Hawthorne has not changed its full-year outlook. Lawn and gardening supply demand was cited as a major factor in Scotts’ record-breaking first-half 2022 sales figures released in May.

Continuing operations generated GAAP earnings of $4.94 per diluted share, down from $5.44 per diluted share in the prior year, for the three months ending April 2, 2022. Non-GAAP adjusted diluted profits per share fell from $5.64 to $5.03 from the previous year.


Best Cannabis Stocks To Buy Long Term? 2 To Watch Before AugustThere was an 8 per cent drop in sales in the second quarter of the fiscal year to $1.68 billion, compared to the same period the previous year.

There was a little increase in sales in the US consumer sector to $1.38 billion. This category’s sales plummeted by 44% to $202.6 million. In June, Scotts revised its profit expectation for the upcoming fiscal year from $4.50 to $5.50 per share. There is a 40-45 per cent reduction in Hawthorne sales expected for the fiscal year that ends on September 30, 2022.

The SMG’s Stock Performance

As of the 27th of July, SMG’s shares finished at $84.56 — a gain of 1.99% over the previous month. A 52-week price range of $72.58-$182.27 and a year-to-date loss of 47.44 per cent indicate that the stock is in a bear market. The 12-month price estimate for SMG stock is $94 per share, according to experts at CNN Business. Compared to its most recent trading price of $84.56, this prediction implies an increase of 11.20 per cent.

The AbbVie Inc.

The pharmaceutical company AbbVie Inc. is constantly working on new treatments to combat global health issues. Because of its focus on the pharmaceutical industry, the company has become one of the most valuable publicly traded medical companies. Biotech company AbbVie provides medical solutions in the areas of immunology and cancer treatment, as well as neurology and eye care, virology and women’s health.

Marinol, a cannabinoid-based medicine developed by AbbVie, was one of the first cannabis therapies approved by the FDA. Results for AbbVie’s first quarter of 2022 were mixed. Despite accounting limits, adjusted earnings climbed by more than 9% to $3.16 per share, topping forecasts by 2 cents, even though adjusted earnings declined by 8 cents.

Revenues, on the other hand, grew by just 4.1 per cent to $13.54 billion, much below projections. During the first quarter, the company reported diluted EPS of $2.51, an increase of 26.1 per cent, and adjusted EPS of $3.16, an increase of 9.3 per cent, on a GAAP basis, in April.

AbbVie tops ranking as most reputable pharma company in the UK

A 5.4% operational increase and a 4.1% reported increase in first-quarter net sales have already been declared by the corporation. From $14.00 to $14.20 to $13.92 to $14.12, AbbVie updated its 2022 adjusted diluted EPS outlook range, which now includes a negative $0.08 per share effect.

Also Read: Are Marijuana Stocks Available On Cash App?

For the quarter ending on February 17th, AbbVie paid $1.41 in quarterly dividends to shareholders. Q2 2022 profits are expected to be announced on July 29th.

ABBV’s Stock Price Movement

The share price of ABBV was $151.15 at the close of trading on June 3rd, down 1.30 per cent from the previous month. In the last 52 weeks, the stock has risen 11.63 per cent, with a price range of $105.56-$175.91 on the stock market. The average 12-month price estimate for ABBV shares, according to analysts at CNN Business, is $160 per share. A 5.92 per cent increase from the stock’s most recent trading price of $151.06 would be realized.

2022: A Long-Term Investment in Cannabis

The ancillary cannabis stock market could be a great entry point for new investors wishing to make long-term commitments in the cannabis industry. You should always conduct your research before investing in a firm. Knowing which companies are good investments can be determined by looking at their financial records and recent press releases. If you are looking to make long-term investments in the marijuana industry, these could be the stocks to keep an eye on right now.


Shyamly is a talented content editor at With her extensive experience in journalism, Shyamly brings a keen eye for detail and precision to the content she creates. She is responsible for ensuring that all news and updates on the cannabis industry are accurate, informative, and engaging for her readers. Shyamly's passion for writing is evident in her work, and her unique flair for creativity and innovation sets her apart from the rest. When she's not busy creating captivating content, she can be found exploring new hobbies, including photography and art.

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